The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-07-28
CONDITION OF THE MARKETS
What Shows FirmneS;s at Times, but Adj
yances are Followed by Reactions.
at Lower Prices-0ats Higher-Proyi-
sions Steady Under Moderate Business.
MONEY, BONDS AND STOCKS.

An Increase of Activity Results in Lower
Prices for All Active Shares.
NEW YORK, July 27.-Money on call was
easy at Al as per cent. tie last loan being
made at per cent closing offered at l per
cent
Prime mercantile paper, 81 06 Der cent.
Sterling exchange was dull at 81 824 for sixty
day bills and ST. 81 for demand.
The total sales of stocks to-day $40, 875
shares, including the following: Delaware, Lack
awAnna Sc Western. $780, Erie, 1l,570; Lake
Shore, 19OS5; Louisville g. Nashville, 14090
Missouri Pacific, u,1Il; Northwestern, IL, sos;
New Jersey Central, $500; Northern Pacific,
1850; Oregon Transcontnental, $3.50; Pacific
Mail, 2.420; Reading, $780, St. Paul, 43, lao;
st. Paul g. Omaha. 1850; Texas Pacific, 4875s
Union Pacific, s845; Western Union. II. 165.
The stock market displayed more activity to-
day than has been seen on any day for the past
three weeks. The Improvement n the amount
of business done, however. was entirely at the
expense Of valnes, the bears" hammering the
list without interruption throughout the day.
The character of the dealings underwent no
change whatever, but in the absence OF any dis
position on the part of the cliques to support
prices the traders and professionals still re-
tanned complete control The market, however,
was quite feveriSb. and as IT settled down many
stop orders were received and the depression
caused by the execution of these caused the sell
ing of more ''loug" stock than has been done
for over a month. All sorts or rumors were put
in circulation for the purpose of depressing
prices, report OF panic in Boston PROB
ably having more effect than any of the others
Attention was concentrated upon New England
in the early portion of the day, and heavy pres
sure was brought to bear upon the stock. which.
however, bore up remarkably well until late in
the day. Reading afterwards became the prln-
cipal point OF attack, and several large blocks
were thrown over, which started the rumor that
the clique in control of the property were sell
ing The declines in the remainder of the active
list were for smaller amounts, but, among the
sneciaItiss Manhattan, Colorado Coal and Hook
ing Coal notlceably weak The open
ing WAS heavy to weak at declines ex-
tending to ! per cent The .. market was was
cnes were made throughou5 the list
in the first hour, after which more settled tone
was noticeable, although quotations continued
TO yield slowly. There was renewed activity IN
tbe afternoon. accompanied by decided weak
ness and be fore the decline was checked which
was about 130. further losses of from fractions
to IL per cent. had been established A final
raid was made upon values ID the last hour,
when Reading depressed over per cent;
the covering of shorts caused fractional
rally before the close, which, however,
lowest figures of the day. The active
list. without exception is lower this evening,
and Manhattan Is down %; COLORADO Coai; -
Reading, %; Norfolk d Western preferred Ii;
Northwestern, Is; Missouri Pacific. New Eng
land, ST. Paul. and Denver 81 Rio Grande. II;
Lackawanna. 4
Of the dealings in shares. but fully sympathized
with the weakness displayed. and material de-
slines among the active issues were recorded
The total sales amounted to only $40 UOo. Flint
< Pere Marquette frsts declined 4, to ll9.
Northern Pacific terminals, 2, to 100; Texas
Pacific income receipts, 81 to 81.
Government bonds were dull and heavy.
State bonds were dull and steady. Closing
Quotations were: